More reserves found in old oil field

Feb 15, 2014 | 0 comments

One of Ecuador’s oldest oil fields will be productive for many more years than expected, according to new survey. The U.S. geological firm Ryder Scott has certified that 243 million barrels of oil remain in the ground at the Sacha production area in northern Orellana Province.

Discovered in 1969, Sacha has been one of Ecuador’s most productive oil fields but it was thought to be within several years of being pumped dry. The confirmation of the new reserves mean the field will remain producted for an additional 10 years.

Annual royalties from the Sacha field have average $2 billion over the last two decades.

CuencaHighLife

Dani News

Google ad

Fund Grace News

Country living News

Google ad

Hogar Esperanza News

Gran Colombia Suites News

Quinta Maria News

The Cuenca Dispatch

Week of April 21

With the “Yes” vote on 9 of 11 questions, constitutional and legal reforms in the popular consultation head to the Assembly.

Read more

Correístas’ Plan: Impeaching Salazar Amidst Trial for Metastasis Case.

Read more

Everything you need to know about the regulations to apply euthanasia in Ecuador.

Read more

Thai Lotus News